Nifty opened gap up and traded in the positive range through out the day. Mild dips have been bought into. During the day it has tested previous high, but shied away from closing above 12034.
The Options data suggests a range of 11950-12050 for the expiry day as it more or less looks like a consolidation day.
If Nifty is able to close above 12035, we are likely to see a new high by next week.
My monthly target for nifty is minimum 12280/12400. Bank nifty 32200.
The Stop loss for the above target is 11878 / 30800.
Good Luck!
The Options data suggests a range of 11950-12050 for the expiry day as it more or less looks like a consolidation day.
If Nifty is able to close above 12035, we are likely to see a new high by next week.
My monthly target for nifty is minimum 12280/12400. Bank nifty 32200.
The Stop loss for the above target is 11878 / 30800.
Good Luck!
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